River Dog wrote:As I understand it, as the current law is written, they can't borrow money to support SS. If nothing is done, they'll have to start cutting benefits to current retirees, and if that happens, all hell will break loose as there are a lot of seniors that rely primarily on SS. And the longer they wait to correct it, the more expensive and painful it's going to be to put it back on its feet. All they've been doing is kicking the can down the road.
I agree about letting Trump talk. Give the man enough rope and he'll hang himself. But at some point, Harris is going to have to come out of her cocoon. She can't keep ducking press conferences and interviews like Biden had been doing. She's going to have to get specific about her goals, and when she has to start taking positions on the issues of the day, she's almost certainly going to lose some popularity. She's been riding this novelty effect for the past month, and at some point, the honeymoon is going to come to an end.
You already know how this works. You borrow to pay for other things and use money in the budget to keep social security going. My background is in accounting and you took business as well so you know accounting, moving money around on books is not hard. Who's going to investigate it? Congress? Investigate themselves as they scramble to keep social security solvent? Not going to happen. We been kicking the can down the road for almost everything with the government budget. We been overspending across the board for years. Only time I've seen them pay down the deficit a bit was during the Clinton years when Newt Gingrich ran Congress and forced the issue. Why do you think I don't like either party? They pretend they want to do something, but when the rubber hits the road neither party seems interested in doing what they have to do to make the government budget work. Democrats won't look at Americans and go "The government is not here to give you things. So you're going to have manage money better to survive or suffer the consequences" and Republicans keep pushing tax cuts and spending on businesses incentives and the military because they little interest in responsible economics either because basing your campaign on responsible economics is losing position in a voting Democracy. Which is why we seem to always end up inflating our way out of these situations or trying to. Once you understand economics, these two parties look incredibly bad at managing money like some credit addicted shopaholics run the country. Even if you're a responsible politician, you look at this mess and go, "Nope. Not going to try to fix this and end up with ulcers and anger issues." You're hope for eventual responsible management of government ain't never going to happen. Social security will be maintained even if they change the name to Universal Basic Income or some other name and they'll tax the middle class to pay for it.
You want to know why they tax the middle class to pay for it? Because the middle class can't do anything about. Rich people will fund campaigns to put politicians in place that will benefit them. Poor people will riot, do crime, and act up if you don't keep them with some level of appeasement. Middle class people will "pay their fair share" and "follow the law" and try to maintain some kind honest or somewhat honest life because they were raised to do so while the rich and the poor could care less about honesty and responsibility unless the rich are teaching and promoting moral ideas to keep the middle class in line to keep their labor force and make sure those middle class or working class are consuming their goods and services.
The funny thing is the upper class does the same thing in Communist societies though they call themselves party leaders, so that is still a worse situation than being on a tax farm.
Suffice it to say there is very little incentive to fix the government economics by either party due to it being a losing position in a Democracy, especially for a group of people who want more and more and more stuff in the modern day. You'll see more government programs rather than less if you live long enough [bi]Riverdog[/b] an the middle and working class will pay for it themselves like they always do. Even the wealthy in Europe and other socialist shield as much as their money as they can often offshore or in other nations.
This is what I have learned investing all these years, watching the business news, and learning all the ways the wealthy shield cash not just domestically, but globally. The middle and working class pay for their own benefits in Europe and they pay for their own benefits in America as well as support the domestic economy through their consumption. That's likely what will happen to fund social security where middle and working class people end up paying higher social security taxes as well as increasing the age if it reaches a point where the government has no choice but to fix it.
Just as an aside, you want to know who I never hear talk much about paying their fair share? Wealthy people. They don't even think that way. If wealthy people had been given student loan forgiveness, they would have taken it without talking about it much. They get loan forgiveness and massive tax credits and incentives all the time that the Republican middle and working class don't mention or talk about because they've been thoroughly trained to believe that any government handout or benefit is wrong to give to people for doing nothing. Rich people don't think that way. As far as they're concerned, they'll take any break the governemnt gives and lobby for such breaks all the time and then keep them from making it into the news for discussion. Welfare for the rich is a very real thing in America, but the rich keep that stuff quiet because they don't want the middle and working class crying over it.